10.13 Market Analysis: Bitcoin Over-Sold Rebound, Trend Has Not Completely Reversed

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丁君羡
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4 hours ago

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BTC: After experiencing a rapid decline over the weekend, the price of Bitcoin is currently stabilizing above the EMA 120-day moving average, showing a rebound from an oversold condition. A significant resistance level is observed in the range of 117,000-118,000. If the daily line cannot stabilize above this level, there is still a probability of a second bottom forming in the future.

ETH: The rebound is relatively strong, with the daily line forming an engulfing bullish candle, stabilizing above the upward trend line. There is no need to blindly chase the price higher at this position; instead, pay attention to the support area around 4,000 and the strong resistance zone at 4,250.

For more explanations, please patiently watch the video. If you have any questions, you can follow the public account: Ding Junxian.

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